UK DeepTech VC IQ Capital launches new $125M growth fund, closes third VC fund at $175M
IQ Capital, a U.K.-based deep tech fund that has invested in startups such as Paragraf, Senseye and Funderbeam, has launched a new $125 million Growth Opportunities Fund and closed its third venture fund, IQ Capital Fund III, at $175 million. This brings the total new capital to be invested to more than $300 million. National Grid Partners have joined British Patient Capital and a number of other global institutions as an investor in IQ Capital Fund III.
The move is part of a wider shift in VC investing across Europe toward so-called deep tech (AI, biotech, Blockchain, etc.).For instance, Adara Ventures, a Spanish VC firm, recently closed its third fund with commitments in excess of €65 million to back European early-stage deep tech startups.
IQ says the $125 million fund will provide later-stage capital to the best-performing companies in their existing portfolio. The first to benefit from this is Privitar, a startup in data privacy engineering that IQ Capital funded from seed stage as part of its $40 million Series B funding round an